Dam Capital Advisors IPO Closes Today: Retail Segment Leads Oversubscription

Today marks the last day of auction for subscribing to Dam Capital Advisors IPO, which opened for public bidding on December 19, 2024; it closes today, December 23. Interest for this offering of Rs 840.25 crore is considerable; overall subscription rate as of now is much above seven times.

Retail investors have subscribed 9.16 times themselves for this offer, hot on the heels of the Non-Institutional Investor (NII) segment, which has subscribed 11.56 times after the Qualified Institutional Buyers (QIBs), which do not seem to show much enthusiasm with a mere 0.07 times.

This IPO is 100% OFS and contains about 2.97 crore shares, which means the company shall not receive any money from this issue. The pricing band set is Rs 269-283 per share while the minimum lot size for retail investors to bid is 53 shares, which will mean an investment of Rs 14,999.

For Small Non-Institutional Investors (sNII) the minimum application size is 14 lots (742 shares) amounting towards Rs 209,986, while a Large Non-Institutional Investor (bNII) needs a minimum of 67 lots for applying (3,551 shares), at a cost of Rs 10,04,933.

GMP and Listing Details

The Grey Market Premium (GMP) stands at Rs 160 for Dam Capital Advisors IPO as of December 23, 2024. In other words, it gives an estimated listing price of Rs 443 apiece, with a possible premium of 56.54% at the upper price band of Rs 283.

Share allotment is scheduled to complete on December 24, 2024, following which applicants will be able to check the application status on the registrar’s website, Link Intime India Private Ltd. The shares will be listed on the BSE and NSE on December 27, 2024.

The IPO’s book-running lead manager is Nuvama Wealth Management Limited, while Link Intime India Private Ltd is the registrar.

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